BO'AO, March 29, 2024 (BSS/TASS) - Russia is doing more and more business

with countries of the Global South, with the country's flourishing trade with
China a prime example of this, Deputy Prime Minister Alexey Overchuk said at
a meeting with Chairman of the Standing Committee of the National People's
Congress of China Zhao Leji.

"The Russian economy has reoriented to markets of the Global South and East.
Trade turnover with China has increased by 23.1% reaching almost $228 bln,
while PRC statistics have this number at $240 bln," Overchuk informed.

Russia and China have therefore surpassed the $200 bln target set by the
heads of the two states, the Russian official said. "This is an all-time high
for our countries. Russia has for the first time moved to fourth place among
foreign trade partners of the People's Republic of China," Overchuk stressed.

More than 90% of bilateral transactions between Russia and China are made in
rubles and yuan, the deputy prime minister noted. "The Russian ruble has
recently become the main export currency for Russia. Its share is already
about 40%," he stressed. "The yuan tops the list among friendly currencies
for us. 25% of Russian foreign trade is now calculated in the yuan," the
official added.